Enforcing Time-Out Periods in Payment-Enabled Mobile Device

1. A risk management method for a mobile device, comprising: conducting, by processing circuitry coupled to storage elements within a secure element of a user's mobile device, a pre-sign procedure enabling a payment capability of a mobile device payment application for a predetermined amount of time, the pre-sign procedure selected by a user before interfacing the mobile device to exchange transaction signals with a proximity reader of a point-of-sale (POS) terminal; verifying, by the processing circuitry running the mobile device payment application stored in the secure element, the user; obtaining, by the processing circuitry from a secure tick counter in the secure element of the user's mobile device, a first tick value; setting, by the processing circuitry of the user's mobile device, the user's mobile device into a transaction-enabled state; obtaining, by the processing circuitry of the user's mobile device when the user's mobile device is interfaced with the proximity reader of the POS terminal, a current tick value from the secure tick counter; aborting a purchase transaction when the processing circuitry determines that the secure tick counter has been one of reset or overflowed; calculating, by the processing circuitry of the user's mobile device, a difference time value between the current tick value and the first tick value; and enforcing, by the processing circuitry of the user's mobile device based on the difference time value, a risk management decision.

2. The method of claim 1 , wherein the risk management decision comprises allowing a purchase transaction when the difference time value is less than a predetermined time limit.

3. The method of claim 1 , wherein the risk management decision comprises aborting a purchase transaction when the difference time value exceeds a predetermined time limit.

4. The method of claim 1 , wherein the risk management decision comprises requiring an online authorization when the difference time value exceeds a predetermined time limit.

5. A mobile device, comprising: a housing; an antenna mounted in or on the housing for transmitting and receiving transaction signals; a user interface element mounted on the housing; a transceiver mounted in the housing and coupled to the antenna; and secure element including processing circuitry and a secure tick counter mounted in the housing, the secure element secured from tampering and unauthorized access and storing a mobile device payment application operable to conduct a pre-sign procedure enabling a payment capability of the mobile device payment application for a predetermined amount of time, the pre-sign procedure selected by a user before interfacing the transceiver to exchange transaction signals with a proximity reader of a point-of-sale (POS) terminal, and wherein the secure tick counter comprises: an oscillator, a counter operably coupled to the oscillator, an overflow counter operatively coupled to the counter, and a reset counter accessible by a payment application and that increments upon detection of a reset event of the mobile device, and wherein the processing circuitry is configured to: verify the user; obtain a first tick value; set the mobile device into a transaction-enabled state; obtain, when the transceiver is interfaced with the proximity reader of the POS terminal, a current tick value from the secure tick counter; abort a purchase transaction when the overflow counter has been incremented; calculate a difference time value between the current tick value and the first tick value; and enforce a risk management decision based on the difference time value.

6. The apparatus of claim 5 , wherein the risk management decision is enforced by allowing a purchase transaction when the difference time value is less than a predetermined time limit.

7. The apparatus of claim 5 , wherein the risk management decision is enforced by aborting a purchase transaction when the difference time value exceeds a predetermined time limit.

8. The apparatus of claim 5 , wherein the risk management decision is enforced by requiring an online authorization when the difference time value exceeds a predetermined time limit.

9. The apparatus of claim 5 , wherein the processing circuitry is further configured to, prior to calculating the difference time value: determine that the secure tick counter has overflowed; and abort a purchase transaction.

10. The apparatus of claim 5 , wherein the processing circuitry is further configured to, prior to calculating the difference time value: determine that the secure tick counter has reset; and abort a purchase transaction.

11. The apparatus of claim 5 , wherein the processing circuitry is further configured to, prior to calculating the difference time value: determine that the reset counter has been incremented; and abort a purchase transaction.